A Hostile takeover is what sisu were surely trying to start by approaching Yorkshire bank themselves were they not?
As opposed to sensible adult conversations/negotiations over buying the share
Interesting point. I guess in business you can but aren't you into the area of hostile takeovers? If the money was suddenly owed to SISU rather than YB what would prevent SISU from altering the repayment terms or requesting the full balance be paid?
So in other words, they wanted out as quickly and easily as possible?
It's not trying to underline the credibility, I think it's an attempt to paint the picture that the witness was fundamentally opposed to SISU.
A Hostile takeover is what sisu were surely trying to start by approaching Yorkshire bank themselves were they not?
As opposed to sensible adult conversations/negotiations over buying the share
If ACL had missed a payment I could understand the bank's position. But this wasn't the case. Had ACL tried to renegotiate the loan with the bank?
Agreement was to be Sisu sort out bank debt, CCC extend lease, Sisu buy out Higgs share of ACL and AEG brought in by Sisu to manage arena
This is probably why Fisher was constantly on CWR telling everyone ACL was about to go bust. I think basically they were trying to unsettle YB so even tho no payments had been missed they were worried about future payments and would be open to an offer to pay off at a lower rate.
So CCC would still have owned 50%? Not sure why that same deal can't be done no matter who the debt is to? Pay Higgs for their share, pay the loan off (or pay the £8m they were going to pay YB) in return for the logner lease and you end up in the same place. What's to stop that happening now?
PKH agreed with QC that there were holes in the bilateral (CCC and Higgs) rather than trilateral approach to bank as didn't consider how it would affect CCFC
It's not trying to underline the credibility, I think it's an attempt to paint the picture that the witness was fundamentally opposed to SISU.
That would be my interpretation but Labovich has claimed it was a plan between all parties involved which then brings up the question of legallity based on what he has stated relating to Higgs and CCC working together.
Bear in mind we are discussing events Aug 2012-Jan 2013 when a deal was trying to be made for the benefit of all, pre-Admin, pre-Sixfields.
Sisu had a slightly better reputation (couldn't be worse?!?) back then.
So CCC would still have owned 50%? Not sure why that same deal can't be done no matter who the debt is to? Pay Higgs for their share, pay the loan off (or pay the £8m they were going to pay YB) in return for the logner lease and you end up in the same place. What's to stop that happening now?
But wasn't that was after the club had moved?Lucas admitted ACL would have been in "a right mess" if the mortgage had stayed with the YB
Bear in mind we are discussing events Aug 2012-Jan 2013 when a deal was trying to be made for the benefit of all, pre-Admin, pre-Sixfields.
Sisu had a slightly better reputation (couldn't be worse?!?) back then.
12.52 PKH quizzing by QC ends. Over to Higgs barrister Brennan... (Not Bishop Brennan!)
Lucas admitted ACL would have been in "a right mess" if the mortgage had stayed with the YB
was there any agreement that it should consider CCFC ? and as directors/stakeholders in ACL what duty did they owe CCFC to actually include them?
Lack of trust.
Was that before or after Fisher had unsettled YB and given the impression ACL would be going out of business at any minute?
That wasn't covered but I will review notes at lunch (rumble, rumble).
Was that before or after Fisher had unsettled YB and given the impression ACL would be going out of business at any minute?
lunch (rumble, rumble).
PKH getting opportunity to lay into Sisu/Fisher/Seppala
This was SISU's proposal or an agreement between who exactly?Agreement was to be Sisu sort out bank debt, CCC extend lease, Sisu buy out Higgs share of ACL and AEG brought in by Sisu to manage arena
YB must be a shit bank then if they become "unsettled" by an "impression".
Well given that ACL never missed a payment and are still in business why did YB suddenly become worried about their ability to pay at the same time SISU stopped paying rent and Fisher was telling anyone who would listen they were about to go bust?
Like i said previously ,actually paid down the loan at virtually double rate .
Any higher Risk than the opening loan £21M. when virtually the whole business was around the football ,yet by the end represented around 15% of business.
Much more to the Director who shifted across and alerted YB to the ruse .
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?